Finance

Insurance Services in Milpitas

Insurance services in Milpitas for your need to insure your life, autos, and homes. Independent, Allstate, Farmers, and State Farm insurance agents listed and linked here.

Insurance Agent

Independent Insurance Agents

Wettenstein Insurance & Financial Solutions
Milpitas Chamber President
320 S. Abel Street
408-824-1450

Allstate Insurance

Shwu Jim Chen (Chinese)
500 E. Calaveras Blvd. Ste 311
408-941-9838

Richard Dusablon
950 Thompson St. Inside Piercy Toyota.
408-240-1590

Kirk Kessler
71 S Abbott Ave.
408-733-7646

An Phan (English, Vietnamese)
1258 S Abel St.
408-941-8000

Doris Tran
1752 Clear Lake Ave
408-353-0969

Howard Tsao
500 E Calaveras Blvd, Ste 311
925-451-3186

Robert J. Varich, Pinnacle One
1313 N Milpitas Blvd. Ste 179
408-942-3331

Farmers

Frederick Fernandez
16 Corning Ave. Ste 266c
408-516-7073

Jim Jarnagin
615 S Main St
925-895-3242

Thu Le
127 S Milpitas Blvd
408-759-9693

Jevi Oclarit
16 Corning Ave. Ste 266
408-854-4274

Thomas Truong
500 E Calaveras Blvd. Ste 321
408-935-8888

Daniel Youngs (English)
1313 N Milpitas Blvd Ste 200
408-262-5196

State Farm

Aman Sehgal
830 Hillview Ct Suite 195
408-684-0110

David M. Souza Insurance Agency, Inc.
101 Serra Way
408-262-7080

Graham Start
56 Dixon Road
408-946-7722

Dorotea Tuzon Ins Agency Inc
308 Great Mall Drive
408-935-9355

Thang Vo English, Vietnamese, Hindi, and Spanish
391 Jacklin Road
408-273-8789

Credit Unions: Find a Credit Union in Milpitas

Find a friendly credit union in many areas within Milpitas. Since the Commonwealth CU closed its branch doors, members can now use ATMs at Patelco and KeyPoint Credit Unions.

Credit union vs BANK
How is a Credit Union Different from a Bank?

Not for profit. For-profit corporations who offer a full range of financial products and services.
Earnings are returned to members through services like free ATMs, better rates and lower fees. Earnings go to outside bond and stockholders in the form of dividends.
Insured by NCUA up to $250,000.
They are democratically governed and elections are based on a one-member, one-vote philosophy. Banks are governed by paid shareholders. Voting rights depend on the number of shares owned.
More than 30,000 surcharge-free ATMs. Banks require customers to use their branded ATMs and branches for services or pay fees. Some services are unavailable outside the bank.
They are local, community based financial institutions. Members support their local communities when they bank at a credit union. Banks are big! The average size of a bank is double that of a credit union.
They have members, not shareholders. Banks have customers and shareholders. They must make money from their customers to please shareholders.

Commonwealth Credit Union
Branch is closed for good. Use ATMs at KeyPoint or Patelco linked below for deposits or to get cash.
408-531-3100

KeyPoint Credit Union
We don’t sacrifice personal service for automated technology. A highly-trained credit union associate is always ready to answer your questions and help with your banking needs.
573 E. Calaveras Blvd.
408-245-0104

Meriwest Credit Union
Our goal is to help you achieve your financial dreams – whether it’s to own a home, buy a new car, get the best return for your investments, plan for retirement, or build your savings.
117 N. Milpitas Boulevard
877-637-4937

Patelco Credit Union
We’re here to help build your financial strength and resiliency for any ups and downs life may throw your way.
601 E Calaveras Blvd
800-358-8228

Technology Credit Union
Uses the most advanced encryption standards to protect our members’ accounts as they conduct their financial business. Other online features are access to up to 13 years of bank statements, up to date deposit and loan rates, Tech CU blogs and events.
360 Cypress Drive
408-467-2383

See also Bank Online at Your Milpitas Bank

Milpitas Square Banking and Investing

Places in Milpitas Square that will help you with investing management and everyday banking services along Barber Lane or nearby.

Banks

CTBC Bank
Flexible and convenient online solutions. Great service and low rates are standard. Increase returns on your hard earned money.
Location Hours: Monday To Thursday: 9:00 AM – 4:00 PM
Friday: 9:00 AM – 5:00 PM
Saturday: 10:00 AM – 2:00 PM
Sunday: closed
258 Barber Ct.
408-955-7288

East West Bank
Built on a foundation of purpose and entrepreneurial spirit, we are the bridge that connects people to opportunities. We do more than provide the right solutions to you. We give you the confidence to reach further.
Location Hours: Monday To Friday: 10:00 AM – 6:00 PM
Saturday: 10:00 AM – 5:00 PM
Sunday: closed
468 Barber Lane
Building G, Unit #380A
408-383-0988

EverTrust Bank
Presently, the Bank focuses on servicing Chinese businesses in California providing C&I, trade finance, commercial real estate and construction loans as well as deposit services.
Location Hours: Monday To Thursday: 10:00 AM – 5:00 PM
Friday: 10:00 AM – 6:00 PM
390 Barber Ln #7914
408-652-8098

Credit Union

Technology Credit Union
Uses the most advanced encryption standards to protect our members’ accounts as they conduct their financial business. Other online features are access to up to 13 years of bank statements, up to date deposit and loan rates, Tech CU blogs and events.
360 Cypress Drive
408-467-2383

Investment Service

TD Ameritrade
From our simple approach to Investment Guidance, to making a plan to generate income during retirement, our experienced and knowledgeable staff can help you see what’s possible.
Location Hours: Monday To Friday: 8:30 AM – 5:00 PM
232 Barber Ct.
408-321-8599

Financial Services in Milpitas

Milpitas has a fair number of small financial service business, some franchised with large companies, and some individually owned an operated. Also check banks and credit unions for financial advising services.

Accountants

Alan David, CPA
Tax planning, bookkeeping.
1313 N. Milpitas Blvd. #200
408-439-5933

Karen Hahn, CPA, CVA, MST
Accounting, tax, investing & financial services. Useful page about record retention.
500 E. Calaveras. Blvd., Suite 333,
408-263-8888

Investment Advice

Lincoln Financial Advisors
Thomas J. Valore
Certified Financial Planner Practitioner, Certified Senior Advisor
Lincoln Financial Advisors Corp.,
408-946-0703

Guardino Financial Group
Sal is a Certified Financial Planner™ practitioner and Mortgage Broker who holds a MBA from Santa Clara University.
1313 N. Milpitas Blvd #200
408-217-6193

Loans

Loan Pros
We pride ourselves in offering the highest level of customer service, and appreciate the opportunity to earn your business.
1355 Jacklin Rd., (former location, now home-based online.)
408-262-8700

Nichols Mortgage & Financial Services
Looking for a better home loan? Find out what is possible.
16 Corning Avenue, Suite 230
408-957-0557

Put a Mortgage Calculator on your site!

Savings Programs

Golden State Scholarshare Trust College Savings Program
This tax-deferred, college savings program will help California families and others to save in order to meet the increasing costs of higher education.

Taxes

H & R Block
H&R Block Premium Office, Year-Round Assistance, Business Services.
261 W Calaveras Blvd
408-263-3700

Jackson Hewitt Tax Service
Our tax preparers understand your concerns and are equipped to answer all of your questions.
379 Jacklin Road
408-262-2600
301 Ranch Dr
408-606-3991

Tax Considerations/Strategies for PPP loans and Grants

Paycheck Protection Program (PPP)

by Karen A. Hahn, CPA, Inc

PPP #1:

  • For those of you who received a PPP during the first round April – June of 2020, THE MONEY YOU SPENT FROM YOUR PPP LOAN WILL BE TAX DEDUCTIBLE!!!
  • Be aware that California has not conformed to this non-taxable provision. The forgiveness of the loan will be taxable on California tax returns.
  • There is a new simplified loan application for loans below $150,000. (This will apply to PPP 1 &2.) Form 3508EZ One page no documentation required.
  • Long form is 3508, requires documentation to be attached.

PPP #2:

Same as original PPP Loan:

  • The loan amount will be 2.5 times your monthly payroll (for most)
  • Terms: 1%, 5-year maturity (loans before 6/5/2020 have a 2-year maturity)

New terms on PPP2 loan: Your business is qualified to take a “second draw” on the PPP loan if you meet the following requirements:

  • For businesses with no more than 300 employees per physical location
  • $2 million maximum loan amount
  • You must prove you have had a decrease in gross sales of at least 25% for at least one quarter in 2020 (as compared to the same quarter in 2019).
  • Restaurants & Hospitality businesses can borrow 3.5 times their payroll amount
  • If you did not get a PPP loan the first time, you can apply for BOTH draws!
  • If your first PPP loan was lower than 2.5 of your payroll, you may be able to get the additional amount with your 2nd loan!
  • In addition to payroll and rent expenses being qualified expenses, you now will be able to include COVID related expenses! This means personal protection gear, supplies necessary to meet CDC safety compliance, disinfectant supplies and even certain qualified software will be included for forgiveness.
  • There is a 90-day window between your original PPP loan funding and the new application. There is also some verbiage that suggests you must have used up your original loan before you can apply for the new loan. While we don’t have any guidance on this, it simply means you have to justify that you spent the money on payroll & rent (and COVID expenses?) before you can apply for the 2nd loan. (This may not be the same as proving the bank account you had the PPP loan deposited into is zero. Don’t presume that account must be zeroed to qualify. Let’s wait for more guidance.)

IF YOU ARE INTERESTED IN APPLYING FOR PPP2, YOUR MAIN PRIORITY RIGHT NOW SHOULD
BE GETTING YOUR 2020 BOOKS UP TO DATE.

This will help you get the information needed to apply.

  • EIDL Loans no longer have to be deducted for the PPP loan to ascertain forgiveness.

GRANTS

  • Some business have received grants from different entities such as professional organizations and cities. In order to determine if these grants are taxable, one has to look to the original grant paperwork. How was the grant money calculated? If it was meant to be a replacement of income, then it is most likely taxable.

OTHER ITEMS on the Economic Relief Bill:

Economic Impact Payments

If you receive a stimulus with the last round ($1200 per person), you will most likely receive the new stimulus of $600 per person (plus $600 for dependents under age 17). Here are the qualifications:

  • Single income below $75,000; Head of Household income below $112,500 and Married joint income below $150,000. If your income is above these thresholds, the amount you receive will be phased out.
  • Payment will be based on your income on your 2019 tax return.
  • Social Security & Veterans will receive the $600 automatically.
  • You may not receive the payment in the same fashion as the last one. If you did not get direct deposit or paper check, you may get a check or debit card in the mail.
  • If you do not receive the payment & you are eligible, you will get the money as a tax refund when you file your 2020 return. (Recovery Rebate Credit)
  • You can go to Get My Payment to get information about your first and second stimulus payments.
  • You will not be able to change checking information on-line. If your bank account has changed, you may receive a paper check or can claim the recovery rebate credit when you file your 2020 return.

Unemployment

  • Unemployment benefits have been extended for 11 weeks. These benefits also include an additional $300 per week through 3/14/2021.
  • Pandemic Unemployment Insurance for self-employed or subcontractors will also be able to collect unemployment for another 11 weeks. The $300 additional pay also applies.
  • You do not need to do anything if you already have an open claim. If you have recently become unemployed, you should open a claim.
  • Maximum weeks of unemployment is extended to 50 weeks.
  • I to recommend business owners do NOT collect unemployment if you are eligible for PPP2. It’s expected the loan process will be much quicker and you should use the PPP loan to pay yourself.

Payroll Tax Deferral

  • If you took the payroll tax deferral, you have until 12/31/21 to pay the taxes back. (It had been 4/30/21.)
  • Self-employed individuals can get a social security credit if they contracted COVID19.

Paid Sick Leave Credits

  • If the employer pays an employee for paid sick and family leave, you can use payroll tax credits through 3/31/21.

Employee Retention Credit

A payroll tax credit can be taken if you experience a 20% decline in gross receipts (was 50% decline) from January 1 to June 31, 2021. The tax credit applies to:

  • A credit equal to 70% of gross wages, up to a maximum of $10,000 in wages per quarter (was per year). This means up to a $7000 payroll tax credit per employee.
  • This is only for employers who did NOT get a PPP loan.

Rent Assistance & Eviction Moratorium

  • The eviction moratorium was extended until 1/31/2021.
  • Eligible renters can receive up to 12 months assistance to pay for rent, utilities and unpaid rent or unpaid utilities. This assistance is tax free.
  • States will be responsible for distribution of these funds. Contact your local housing authority for assistance.

Bank Online at Your Milpitas Bank

While often it is convenient to stop by your local Milpitas bank, sometimes it is just easier to do your banking online, especially when banks are closed. More and more services are offered every year.

Online banking

Bank of America’s HomeBanking Service
You can bank and check VISA balance right here, through the Internet.
740 E. Calaveras Blvd. (Financial services, ATM, & cardless ATM available.)
9:00 a.m. – 5:00 p.m. Monday – Friday; 9:00 a.m. – 2:00 p.m. Saturday; Closed Sunday
408-941-7970
&
15 Ranch Dr. (Walk-up ATM & Cardless ATM)
Open 24 Hours every day.

Bank of the West
eTime Banking enrollment explained.
1360 E. Calaveras Blvd.
Monday – Thursday: 9:00 a.m. – 5:00 p.m.; Friday: 9:00 a.m. – 5:00 p.m.; Saturday: 9:00 a.m. – 12:00 p.m.; Closed Sunday
408-998-6906

Cathay eBank
The account and transaction information you need to manage your finances any time of the day or night.
1759 N. Milpitas. Blvd.
9:00 a.m. – 5:00 p.m. Monday – Friday; 9:00 a.m. – 2:00 p.m. Saturday; Closed Sunday
408-262-0280

Chase
Browser-based banking and bill paying.
9:00 a.m. – 6:00 p.m. Monday – Friday;  9:00 a.m. – 4:00 p.m. Saturday; Closed Sunday
37 N Milpitas Bl., 408-945-7501
&
1285 S Park Victoria, 408-263-6233
&
261 Jacklin Rd, 408-263-7452

Citibank
Offers online banking via Quicken.
5 N Milpitas Blvd.
10:00 a.m. – 5:00 p.m. Monday – Friday; 10:00 a.m. – 2:00 p.m. Saturday; Closed Sunday
408-922-9544

Comerica Web Banking
Banking from home or office is just as easy as using one of their ATM machines.
1289 S Park Victoria Dr.
9:00 a.m. – 5:00 p.m. Monday – Thursday; 9:00 a.m. – 6:00 p.m. Friday; 9:00 a.m. – 1:00 p.m. Saturday; Closed Sunday
408-946-4186

EastWest Bank
Free account access. Bill payments free for a year. Site also in Chinese.
338 Barber Ln.
10:00 a.m. – 7:00 p.m. Monday – Friday; 10:00 a.m. – 5:00 p.m. Saturday; 11:00 a.m. – 5:00 p.m. Sunday
408-383-0988

Poppy Bank
We exist to meet the banking needs of our clients and to make a positive difference in the communities we serve.
555 E. Calaveras Blvd., Inside Safeway
10:00 a.m. – 6:00 p.m. Monday – Saturday; Closed Sunday
408-708-7410

HSBC
HSBC Premier customers benefit from the globally-linked up service that we provide. But the benefits don’t stop with you – they extend to your family too.
603 E Calaveras Blvd.
9:00 a.m. – 5:00 p.m. Monday – Wednesday & Friday; 9:00 a.m. – 6:00 p.m. Thursday; 9:00 a.m. – 1:00 p.m. Saturday; Closed Sunday
1-800-975-4722

Union Bank – Bank@Home
Includes free bill pay.
11 S. Milpitas Blvd.
9:00 a.m. – 5:00 p.m. Monday – Thursday; 9:00 a.m. – 6:00 p.m. Friday; 9:00 a.m. – 1:00 p.m. Saturday; Closed Sunday
408-956-5150

US Bank ON-Line Express
We asked you how we could improve your Internet Banking experience and you’re about to see the results. Our goal was to create the easiest way to bank online. We think we’ve succeeded.
100 N. Milpitas. Blvd.
9:00 a.m. – 5:00 p.m. Monday – Thursday; 9:00 a.m. – 6:00 p.m. Friday; 9:00 a.m. – 1:00 p.m. Saturday; Closed Sunday
408-262-1111

Wells Fargo Online Banking
Start here to find out about banking on the Internet with Wells Fargo. It appears you only need your browser, and no special software.
1 S. Milpitas Blvd.
9:00 a.m. – 6:00 p.m. Monday – Saturday; Closed Sunday
408-586-7684
&
139 Ranch Dr.
9:00 a.m. – 6:00 p.m. Monday – Friday; Closed Saturday & Sunday
408-586-6100
&
1715 Landess
9:00 a.m. – 6:00 p.m. Monday – Saturday; Closed Sunday
408-586-7676

See also Credit Unions in Milpitas

Investment and Retirement Advice & News

It is often nice to have a financial broker who is available to talk with you about your investments for retirement, and be nearby to where you live or work. It is great when they understand what it takes to live here in Silicon Valley.
Investments

Brokers

Charles Schwab
Offers a toll-free telephone number (800-682-0668) for service in Mandarin and Cantonese for their Asia-Pacific Service located in Milpitas.
12 Ranch Drive, 408-467-7010

CUSO Financial Services
CommonWealth has formed a relationship with CUSO Financial Services, L.P. (CFS)*, an independent broker/dealer, to provide service and support for your investment and insurance needs. As a CommonWealth member, you can enjoy CUSO’s personalized service, lower brokerage and online trading fees, complimentary financial consultations, and more.
537 E. Calaveras Boulevard
Wealth Access Line: 800-564-1588, option 1

TD Ameritrade
Meet with a Financial Consultant who can help you understand the investment products and services we offer.
232 Barber Ct, Building F
408-321-8599

News

Business Journal of San Jose
Business news. Access The Book of Lists.

Silicon Beat
Levi Sumagaysay and Rex Crum report on Silicon Valley business news in the Mercury News.

SiliconValley.com: Inside the Tech Economy
Tech columnists and news about what’s going on in the technical sector.

Silicon Valley 150 Stock Report
A complete list of the top 150 companies in Silicon Valley, updated with 15 minute delay during the trading day.

The Street
Investor news and venture capital in Silicon Valley report from Mercury News.

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